The company acquired 50000 8% preferencd shares (with a par value of R4 each) in cross limited on 30 june 2006 for R180000.transaction costs at the acquisition date amounted to R1250.preference dividends are paid annually on 30 september.due to the decline in the current market,the directors agreed to sell 30000 of these preference shares on 1 july 2008 for R3 each.the preference shares traded at R3.05 on 31 december 2008 (31 december 2007 : R3.20).prepare journal entries for financial year 31 december 2008.